As mentioned in BusinessWeek, many companies are now conducting mid-year reviews. McGregor writes in The Globe and Mail “faced with the prospect of further layoffs as profits fall, some bosses are using the interim review to warn of tougher grading policies.”
McGregor also writes, “Add the fact that employees are fretting about job security, and this year's sessions could be tense.”
Consumers around the globe are worried about job loss. Increasing performance expectations are compounding employee worries. Referring to a recent survey commissioned by Vertitude The New Normal: Recession Response and Workforce Planning, Peter Cappelli writes “Here's what's new: Almost two-thirds report they are using the opportunity provided by the downturn and the surplus of qualified applicants to get rid of low-performing employees and replace them with new hires.” Thus, not only are employees unsure about whether or not their jobs will exist, they are also now worried that their employers will find a qualified workers to replace them.
In challenging economic circumstances, honesty helps quell fear. If there is a possibility of job reductions or salary reductions, it is important to acknowledge this. When feeling fearful, we try to gain control over the circumstances that are the source of the fear. Every individual worker has control over his or her knowledge and skill; what he or she can offer an employer. Thus, one of the best ways to help an individual employee fight the fear of job loss is to help him or her gain power in this area.
As a result, an employer can help an employee feel more secure during uncertain times by helping that individual build valuable skills to not only benefit the organization, but also make him or her more marketable. Another way to give an employee control is to help him or her become more involved in the review process. Some examples of how to do this are contained in this Newly Corporate blog.
Delivering performance feedback with skill building as the main goal can reduce stress for the individual and benefit the organization. When employees knows they are learning and improving valuable skills, they may feel more secure, even in an environment in which job security cannot be guaranteed.
References:
Dan. “5 Keys To Acing A Performance Review.” Newly Corporate [www. newlycorporate.com]. January 10, 2008.
Cappelli, Peter. “Commitment Takes Another Hit.” Human Resource Executive Online [www.hreonline.com]. July 20, 2009.
McGregor, Jena. “The Midyear Review Takes On More Weight.” BusinessWeek [www.businessweek.com]. June 25, 2009.
Talton, Jon. “Now it's President Obama's recession and job losses are worry No. 1.” The Seattle Times [www.seattletimes.nwsource.com]. June 30, 2009.
